In a significant move, Prospera Financial Services Inc has expanded its holdings in the Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by an impressive 96.2% during the second quarter, according to reports from HoldingsChannel. This increase brings the fund”s total to 17,290 shares after acquiring an additional 8,478 shares within that timeframe.
The total value of Prospera Financial Services“s investment in the Grayscale Bitcoin Trust ETF now stands at approximately $1.47 million, showcasing a robust commitment to the cryptocurrency space.
Other institutional investors have also shown interest in Grayscale Bitcoin Trust ETF. For instance, Allworth Financial LP enhanced its stake by 5.5% in the first quarter, bringing its total to 5,175 shares valued at $337,000 after a purchase of 268 additional shares. Similarly, Cerity Partners LLC increased its position by 36.4%, owning 62,280 shares worth $4.06 million after acquiring 16,620 shares during the same period.
Furthermore, CWM LLC grew its holdings by 14.2% in the first quarter, now owning 4,812 shares valued at $314,000, while Bogart Wealth LLC increased its holdings by 11.2%, reaching a total of 2,749 shares worth $179,000. Additionally, LMG Wealth Partners LLC entered a new position valued at approximately $496,000 during the first quarter.
As for the performance of the Grayscale Bitcoin Trust ETF, shares opened at $80.47 on Wednesday, with a 52-week range between $59.79 and $99.12. The market capitalization is reported at $19.37 billion, with a price-to-earnings ratio of 2.23 and a beta of 2.40. The fund”s fifty-day moving average is $88.19, while the 200-day moving average stands at $86.86.
Launched on January 11, 2024, the Grayscale Bitcoin Trust primarily invests in long positions in bitcoin and short positions in USD currency. This passively managed fund provides investors with exposure to the daily USD spot price of bitcoin (BTC), though it is important to note that investing in the fund does not equate to direct investment in bitcoin.
For those interested in tracking the latest movements of hedge funds holding GBTC, HoldingsChannel.com offers updates on 13F filings and insider trades related to the Grayscale Bitcoin Trust ETF.
